Well, first they took £1000 in reservation fees for a new home from us which was crazy. We reluctantly paid, only to have the house de valued by £30,000 and then they said the next day 'well thats tough luck isn't it'. Tehy kept the reservation fee, and did not even attempt to help us, or come up with a solution!

They conveniently kept the fact that all the houses on their development had been down valued!

15th Oct 2009

well it is tough luck a few years ago when you bought of the plans your house could have easily been worth £30,000 more than you paid for it by the time it was build if that was the case you wouldnt give them the money would you

15th Oct 2009

I think the crazy thing is you paid a £1000 reservation fee :?

Most housebuilders have been on their **** and are desperate for cash.

And it's not really their fault the property market has bombed.

Banned
15th Oct 2009

PennysMakePounds;6585832

Well, first they took £1000 in reservation fees for a new home from us … Well, first they took £1000 in reservation fees for a new home from us which was crazy. We reluctantly paid, only to have the house de valued by £30,000 and then they said the next day 'well thats tough luck isn't it'. Tehy kept the reservation fee, and did not even attempt to help us, or come up with a solution!They conveniently kept the fact that all the houses on their development had been down valued!

Not exactly their fault that housing prices are falling. Sounds like you lost out on £1000 and its your own fault as anyone with half a brain knows housing market is dodgy now especially with new builds

15th Oct 2009

So you can buy the same house for £30k less now. Cancel the current contract, lose the grand then reserve one of the houses at the cheaper price and you've saved £29k! Simple!

15th Oct 2009

They will go back up.

Banned
15th Oct 2009

pugw$sh;6586137

So you can buy the same house for £30k less now. Cancel the current … So you can buy the same house for £30k less now. Cancel the current contract, lose the grand then reserve one of the houses at the cheaper price and you've saved £29k! Simple!

+1 except don't give them another reserve and tell them you'll only take house if the 1k you already gave them is reimbursed

15th Oct 2009

Welcome to the learning curve that is ..life:thumbsup:

15th Oct 2009

Paddy Charlie;6586189

+1 except don't give them another reserve and tell them you'll only take … +1 except don't give them another reserve and tell them you'll only take house if the 1k you already gave them is reimbursed

Well, first they took £1000 in reservation fees for a new home from us … Well, first they took £1000 in reservation fees for a new home from us which was crazy. We reluctantly paid, only to have the house de valued by £30,000 and then they said the next day 'well thats tough luck isn't it'. Tehy kept the reservation fee, and did not even attempt to help us, or come up with a solution!They conveniently kept the fact that all the houses on their development had been down valued!

Bit lost here.

AFAIK Belway don't allow a reservation fee to be taken unless you've already sold your home or are in a position to buy right away.

So how does you paying £30k less for it mean it's bad show?

Edit, I take it you've found the house you were buying is now worth less than you agreed on it. Shouldn't really matter, given the fact the prices will eventually go back up?

Original Poster16th Oct 2009

Paddy Charlie;6586189

+1 except don't give them another reserve and tell them you'll only take … +1 except don't give them another reserve and tell them you'll only take house if the 1k you already gave them is reimbursed

pugw$sh;6586137

So you can buy the same house for £30k less now. Cancel the current … So you can buy the same house for £30k less now. Cancel the current contract, lose the grand then reserve one of the houses at the cheaper price and you've saved £29k! Simple!

I think you are all missing the point. They did nothing to help us buy the house. They would not drop their price to meet the valuation. They were happy to take our first time buyer money, and walk, which is what they have done to hundreds of people up and down the country! Atleast other house builders are dropping the price to meet valuations :x

16th Oct 2009

PennysMakePounds;6596058

I think you are all missing the point. They did nothing to help us buy … I think you are all missing the point. They did nothing to help us buy the house. They would not drop their price to meet the valuation. They were happy to take our first time buyer money, and walk, which is what they have done to hundreds of people up and down the country! Atleast other house builders are dropping the price to meet valuations :x

Are you getting a mortgage?

Mortgage companies won't lend you more than the house is worth.

Banned
16th Oct 2009

PennysMakePounds;6596058

Atleast other house builders are dropping the price to meet valuations :x

says you

think you have missed the point - what do they have to do to help you exactly? you willingliy paid the grand and willingly signed for the house.

Banned
16th Oct 2009

PennysMakePounds;6596058

I think you are all missing the point. They did nothing to help us buy … I think you are all missing the point. They did nothing to help us buy the house. They would not drop their price to meet the valuation. They were happy to take our first time buyer money, and walk, which is what they have done to hundreds of people up and down the country! Atleast other house builders are dropping the price to meet valuations :x

you reserved a house at an agreed price, why on earth did you do this without a valuation, and also you are told when reserving that it is non refundable